Barbara Herman Quoted – By Miriam Rozen, Financial Advisor IQ – To boost its recruiting and retention efforts, Wells Fargo Advisors has announced that, effective April 1, it will offer more generous options for FAs on both sides of its succession packages — those retiring and those getting the retirees’ books of business.Specifically, WFA will offer retiring advisors who commit to a warm hand-off of their book of business to remaining WFA FAs a loyalty award of 25% over their trailing 12 months production.
Mindy Diamond Quoted – By Mrinalini Krishna, Financial Advisor IQ – Sunset agreements are a fast-growing technique the industry is using to help solve its looming advisor retirement problem. But are these contracts setting up the next generation of advisors for failure?
By Louis Diamond – The reality is that we are in the midst of a “seller’s market”, and as such, there are plenty of firms that would benefit from M&A, yet the fact remains that many of these potential sellers don’t really have a clear picture of how much their businesses are worth, let alone the benefits they may gain from a merger or acquisition. Whether an advisor is the owner of his own firm or an employee at a major brokerage firm, these 7 areas provide key markers that drive enterprise value.
